PPC of Greece reports 90% plunge in 2017 renewables profit

Wind turbine. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

April 30 (Renewables Now) - PPC Renewables SA, a unit of Greek utility PPC SA (ATH:PPC), on Friday reported an 89.8% drop to EUR 1.1 million (USD 1.33m) in its net profit for 2017.

The subsidiary operates power plants with a combined capacity of 153 MW, mainly wind and small hydro, but also some solar photovoltaic (PV) capacity, according to its website, and it also has geothermal power projects in progress. Details on its performance in the year are in the table, as reported by parent company PPC.

Results in EUR million 2017 2016
Revenue 25.9 30.8
EBITDA 15.2 24.7
EBITDA margin 58.9% 80.1%
Pre-tax profit 3.6 16
Net profit 1.1 10.8

In 2017 PPC invested EUR 178.2 million in renewable energy and conventional generation projects.

(EUR 1 = USD 1.21)

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